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by
Jordy Leo
- April 10, 2024
Australian metal mining and green energy companyFortescue [FMG:AU] has formed a partnership with OCP Group, a Moroccan fertilizer producer, to establish a joint venture (JV) to manufacture green hydrogen, ammonia, and fertilizers at scale, as reported by Reuters on April 9. The two companies have released plans for four cornerstone projects in Morocco. Specifically, thepartners will build a factory for the mass production of green ammonia and green fertilizer, targeting domestic and export markets including Europe. In addition, theywill develop the manufacturing of green technology and equipment, alongside a plan to construct a production facility and a research and development (R&D) hub nearMarrakesh to bolster research in renewable energy, green hydrogen, and minerals processing. On top of this, they seek collaboration with corporate venture capital funds to drive investment in key technology advancements related to green energy production in Morocco.
The collaboration aligns with Morrocco’s ambition to become a major participant in the global energy transition. The country seeks to take advantage of its rich wind and solar resources, two large coastlines, and its proximity to Europe and the Americas. Furthermore, establishing a large-scale ammonia factory could potentially reduce Morocco’s reliance on fertilizer imports. Fortescue and OCP plan to use green hydrogen and ammonia, produced from solar and wind power, both as sources of green energy and as raw materials for carbon-neutral fertilizers. However, details regardingproduction volumes and project timelines have yet to be disclosed, with the JV pending approval from regulatorsin Morrocco.
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